Bankruptcy & Restructuring News & Analysis

JOANN Inc., the once-dominant fabric and craft retailer, is liquidating its assets after filing its second bankruptcy in less than a year. The company's disclosure statement reveals how inventory challenges and vendor issues caused its post-emergence business plan to collapse just months after its April 2024 exit from an earlier Chapter 11 case

Rite Aid has designated 68 additional stores for closure as part of its Chapter 11 bankruptcy proceedings, expanding its previously announced store closing plans. The pharmacy retailer, which filed for bankruptcy on May 5, 2025, is working with liquidation specialists SB360 and Hilco to manage the store closings across Pennsylvania, California, and several other states

Hooters files restructuring plan to sell 103 restaurants and shift to a franchise-only model, aiming to reduce $376 million in debt while preserving its iconic brand. The plan has support from 94% of securitization noteholders with a bankruptcy court hearing scheduled for July 1, 2025

The Delaware Bankruptcy Court has approved Tupperware Brands' plan to modify retiree benefits as part of its Chapter 11 liquidation process. The court ordered the establishment of a $275,000 settlement fund to provide health benefits to approximately 230 retirees until the funds are depleted, following the iconic food storage container maker's sale of substantially all assets in November 2024

Bitcoin miner Rhodium Encore seeks two-week extension of exclusivity periods following major settlement that secured full creditor recovery and $90M for equity holders. The brief delay aims to facilitate ongoing mediation among stakeholders fighting over the equity distribution